80 FR 55099 - Agency Information Collection Activities: Submission for OMB Review; Comment Request

BUREAU OF CONSUMER FINANCIAL PROTECTION

Federal Register Volume 80, Issue 177 (September 14, 2015)

Page Range		55099-55100
FR Document		2015-23070

In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (Bureau) is proposing a new information collection titled, ``Regulation F: Fair Debt Collection Practices Act, State Application for Exemption (12 CFR 1006.2)''.

Federal Register, Volume 80 Issue 177 (Monday, September 14, 2015)

[Federal Register Volume 80, Number 177 (Monday, September 14, 2015)]
[Notices]
[Pages 55099-55100]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-23070]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No: CFPB-2015-0038]


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comment.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA), 
the Consumer Financial Protection Bureau (Bureau) is proposing a new 
information collection titled, ``Regulation F: Fair Debt Collection 
Practices Act, State Application for Exemption (12 CFR 1006.2)''.

DATES: Written comments are encouraged and must be received on or 
before October 14, 2015 to be assured of consideration.

ADDRESSES: You may submit comments, identified by the title of the 
information collection, OMB Control Number (see

[[Page 55100]]

below), and docket number (see above), by any of the following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.
     OMB: Office of Management and Budget, New Executive Office 
Building, Room 10235, Washington, DC 20503 or fax to (202) 395-5806. 
Mailed or faxed comments to OMB should be to the attention of the OMB 
Desk Officer for the Bureau of Consumer Financial Protection.
    Please note that comments submitted after the comment period will 
not be accepted. In general, all comments received will become public 
records, including any personal information provided. Sensitive 
personal information, such as account numbers or social security 
numbers, should not be included.

FOR FURTHER INFORMATION CONTACT: Documentation prepared in support of 
this information collection request is available at www.reginfo.gov 
(this link active on the day following publication of this notice). 
Select ``Information Collection Review,'' under ``Currently under 
review, use the dropdown menu ``Select Agency'' and select ``Consumer 
Financial Protection Bureau'' (recent submissions to OMB will be at the 
top of the list). The same documentation is also available at http://www.regulations.gov. Requests for additional information should be 
directed to the Consumer Financial Protection Bureau, (Attention: PRA 
Office), 1700 G Street NW., Washington, DC 20552, (202) 435-9575, or 
email: [email protected]. Please do not submit comments to this email box.

SUPPLEMENTARY INFORMATION: 
    Title of Collection: Regulation F: Fair Debt Collection Practices 
Act, State Application for Exemption (12 CFR 1006.2).
    OMB Control Number: 3170-XXXX.
    Type of Review: Request for a new OMB Control Number.
    Affected Public: State and Tribal governments and the five (5) 
inhabited U.S. Territories.
    Estimated Number of Respondents: 1.
    Estimated Total Annual Burden Hours: 2.
    Abstract: This Rule establishes procedures and criteria whereby 
states may apply to the Bureau for exemption of a class of debt 
collection practices within the applying state from the provisions of 
the Fair Debt Collection Practices Act (FDCPA) as provided in section 
817 of the Act, 15 U.S.C. 1692. The information collection request 
seeks OMB approval for the state application for exemption from the 
provisions of FDCPA as contained in 12 CFR 1006.2.
    Request for Comments: The Bureau issued a 60-day Federal Register 
notice on June 15, 2015, (80 FR 34148). Comments were solicited and 
continue to be invited on: (a) Whether the collection of information is 
necessary for the proper performance of the functions of the Bureau, 
including whether the information will have practical utility; (b) The 
accuracy of the Bureau's estimate of the burden of the collection of 
information, including the validity of the methods and the assumptions 
used; (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected; and (d) Ways to minimize the burden of the 
collection of information on respondents, including through the use of 
automated collection techniques or other forms of information 
technology. Comments submitted in response to this notice will be 
summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record.

    Dated: September 9, 2015.
Linda F. Powell,
Chief Data Officer, Bureau of Consumer Financial Protection.
[FR Doc. 2015-23070 Filed 9-11-15; 8:45 am]
BILLING CODE 4810-AM-P

Federal Register / Vol. 80, No. 177 / Monday, September 14, 2015 / Notices 55099

II. The RED List The CFTC is committed to providing U.S. consumers trade with and through
accurate information to investors using registered entities, the more likely that their
In light of the challenges associated funds will have a greater chance of being
with taking enforcement action against the RED List. Before listing an entity on
the RED List, Commission staff will protected.
such entities, the Commission believes The named foreign entities currently
it useful to educate and empower notify the entity by Notice Letter of the appear to be acting in a capacity that
prospective investors. The goal of the Commission’s intent to list the entity. requires registration with the CFTC but are
RED List is to provide prospective The entity will have the opportunity to NOT registered with the CFTC.
investors with information regarding respond to the Commission and provide [Inserted will be a list of all of the foreign
unregistered soliciting entities before relevant documentation. If the foreign entities that have met the criteria, as
they invest. For a foreign entity to be entity does not respond to the notice approved by the Commission.]
listed on the CFTC’s RED List, letter or provides an unsatisfactory The inclusion of an entity’s name on
reasonable grounds must exist to believe response, Enforcement will recommend the RED list does not mean that the
that the entity meets the following six to the Commission that a foreign entity CFTC or a Court has concluded that a
criteria: should be included on the RED List. violation of any provision of the
1. The entity is foreign; To implement the RED List, the Commodity Exchange Act or the
2. The foreign entity has no or limited Commission will post on its public Web Commission’s Regulations has occurred.
presence in the United States; 4 sites, http://www.SmartCheck.gov/
3. The foreign entity is soliciting and/ REDList, the names, and only the names, III. Review of RED List
or accepting funds from U.S. residents; of unregistered soliciting foreign entities Twice annually, on or about June 30
4. The foreign entity is offering a that have been subject of complaints and December 31, the Triage Officer will
product within the Commission’s received by the CFTC. The RED list will review the RED List and, if it appears
jurisdiction (e.g. ‘‘forex’’); contain the following information: that a minimum of 12 months have
5. The foreign entity is required to be elapsed during which no complaints
RED (Registration Deficient) LIST
registered; and
have been received regarding the a
6. The foreign entity is not registered.5 List of Foreign Entities That Have Been
If the foreign entity meets these Identified as Acting in a Capacity That foreign entity and the foreign entity’s
criteria, Enforcement will propose that Appears To Require Registration but Are Web site is either inactive or taken
it be included on a publicly disclosed Not Appropriately Registered With the down, Enforcement will submit a
list stating that the foreign entity is Commission recommendation for Commission
acting in a capacity that appears to The Commodity Futures Trading consideration to move the foreign entity
require registration but is not registered Commission (‘‘CFTC’’) frequently receives from the active portion of the RED List
with the Commission. This list will then investigative leads and questions from the homepage to the archival portion of
be publicized by the Commission’s public about foreign entities that solicit and/ such page.
or accept funds from U.S. residents at a retail
Office of Consumer Outreach by a Issued in Washington, DC, on September 9,
level. For example these leads and questions
variety of different methods and media. 2015, by the Commission.
can relate to, among things, foreign entities
The RED List process contains three that engage in foreign currency (‘‘Forex’’) in Robert N. Sidman,
separate levels of review before a a capacity similar to Retail Foreign Exchange Deputy Secretary of the Commission.
recommendation is made to the Dealers (‘‘RFEDs’’), Introducing Brokers, [FR Doc. 2015–23040 Filed 9–11–15; 8:45 am]
Commission for inclusion on the RED Commodity Trading Advisors or Commodity BILLING CODE 6351–01–P
List. First the Intake Officer reviews the Pool Operators http://www.cftc.gov/
complaint and makes an initial ConsumerProtection/
determination of whether a foreign FraudAwarenessPrevention/
ForeignCurrencyTrading/index.htm; and BUREAU OF CONSUMER FINANCIAL
entity should potentially be included in
binary options http://www.cftc.gov/ PROTECTION
the RED List. This initial determination
PressRoom/PressReleases/fraudadv_
is passed to a Triage Officer who will binaryoptions. Many of these foreign entities [Docket No: CFPB–2015–0038]
conduct a limited investigation and then are acting in a capacity that requires them to
make a recommendation to an be registered with the CFTC. Agency Information Collection
Enforcement Deputy Director. The If a foreign entity is registered with the Activities: Submission for OMB
Deputy Director will, based on the CFTC, then it is subject to CFTC regulations Review; Comment Request
information before him/her, make a and oversight that apply to registrants.
Generally, foreign entities that solicit you to AGENCY: Bureau of Consumer Financial
decision as to whether to recommend to Protection.
the Commission that it include a foreign trade are required to register with the CFTC.
For this reason, it is important for you to ACTION: Notice and request for comment.
entity on the RED List. These levels of
consider whether the foreign entity that
review are to ensure that only those solicits you is, in fact, registered with the SUMMARY: In accordance with the
foreign entities that should be included CFTC. Paperwork Reduction Act of 1995
on the RED List are included on the RED In certain cases, a preliminary review by (PRA), the Consumer Financial
List. the CFTC reveals that foreign entities that Protection Bureau (Bureau) is proposing
solicit and/or accept funds from U.S.
a new information collection titled,
investor Alert Portal on its Web site to receive and residents at a retail level have no or limited
publish alerts and warnings from its members about U.S. presence, and act in a capacity that
‘‘Regulation F: Fair Debt Collection
firms which are not authorized to provide requires registration, but are not in fact Practices Act, State Application for
investment services in the jurisdiction that issued registered. In an effort to warn the public Exemption (12 CFR 1006.2)’’.
the alert or warning. about these entities, the CFTC is publishing DATES: Written comments are
tkelley on DSK3SPTVN1PROD with NOTICES

4 Merely registering a Web site with a U.S. based
the names of those foreign entities. encouraged and must be received on or
domain name registrar does not constitute physical
presence.
The goal of this list is to provide before October 14, 2015 to be assured of
information to U.S. consumers about foreign
5 If the foreign entity offers binary options there consideration.
is one additional criterion: Whether the entity is a entities that are acting in an unregistered
capacity and to help them make more ADDRESSES: You may submit comments,
foreign board of trade. If it is a foreign board of
trade, then the entity would not be eligible for the informed decisions about whether to trade identified by the title of the information
RED list. with or through such an entity. The more that collection, OMB Control Number (see

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Document Created: 2018-02-26 10:15:18
Document Modified: 2018-02-26 10:15:18

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice and request for comment.
Dates		Written comments are encouraged and must be received on or before October 14, 2015 to be assured of consideration.
Contact		Documentation prepared in support of this information collection request is available at www.reginfo.gov (this link active on the day following publication of this notice). Select ``Information Collection Review,'' under ``Currently under review, use the dropdown menu ``Select Agency'' and select ``Consumer Financial Protection Bureau'' (recent submissions to OMB will be at the top of the list). The same documentation is also available at http:// www.regulations.gov. Requests for additional information should be directed to the Consumer Financial Protection Bureau, (Attention: PRA Office), 1700 G Street NW., Washington, DC 20552, (202) 435-9575, or email: [email protected] Please do not submit comments to this email box.
FR Citation		80 FR 55099